Area of circle = πr²
Area of circle = π(4÷2)² = 12.57 cm²
A = $2,861.60
I = A - P = $2,361.60
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 26.24%/100 = 0.2624 per year.
Solving our equation:
A = 500(1 + (0.2624 × 18)) = 2861.6
A = $2,861.60
The total amount accrued, principal plus interest, from simple interest on a principal of $500.00 at a rate of 26.24% per year for 18 years is $2,861.60.
Step 1: We make the assumption that 498 is 100% since it is our output value.
Step 2: We next represent the value we seek with $x$x.
Step 3: From step 1, it follows that $100\%=498$100%=498.
Step 4: In the same vein, $x\%=4$x%=4.
Step 5: This gives us a pair of simple equations:
$100\%=498(1)$100%=498(1).
$x\%=4(2)$x%=4(2).
Step 6: By simply dividing equation 1 by equation 2 and taking note of the fact that both the LHS
(left hand side) of both equations have the same unit (%); we have
$\frac{100\%}{x\%}=\frac{498}{4}$
100%
x%=
498
4
Step 7: Taking the inverse (or reciprocal) of both sides yields
$\frac{x\%}{100\%}=\frac{4}{498}$
x%
100%=
4
498
$\Rightarrow x=0.8\%$⇒x=0.8%
Therefore, $4$4 is $0.8\%$0.8% of $498$498.
Answer: 0.000007638035
Step-by-step explanation:
We can use the formula for compound interest to solve this.
Now, the formula goes thus:
A = P ( 1 + r/n)^nt
Where A is the amount compounded, P is the initial amount I.e the principal, r is the rate in % , t is the time while n is the number of times the interest is compounded per time I.e how many times per year.
From the question, we get the following parameters, A = $1912.41 , P = ? , t = 15 years, r = 2.63% and n = 1 of course.
Now, we substitute these into the formula
1912.41 = P ( 1 + 2.63) ^ 15
1912.41 = P ( 3.63) ^ 15
1912.41 = P ( 250,379,850)
P = 1912.41 ÷ 250,379,850
P = 0.000007638035
Looks pretty funny an answer right?
